Banco Bradesco (NYSE:BBDO) Shares Gap Up to $2.44

Banco Bradesco S.A. (NYSE:BBDOGet Rating) shares gapped up prior to trading on Monday . The stock had previously closed at $2.44, but opened at $2.53. Banco Bradesco shares last traded at $2.50, with a volume of 200 shares changing hands.

Banco Bradesco Stock Performance

The company has a current ratio of 1.52, a quick ratio of 1.56 and a debt-to-equity ratio of 1.69. The company has a market cap of $26.06 billion, a P/E ratio of 6.04 and a beta of 1.02. The company has a 50 day moving average price of $2.98 and a 200-day moving average price of $2.99.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 9th. Investors of record on Monday, December 5th will be issued a dividend of $0.0024 per share. This represents a $0.03 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, December 2nd. Banco Bradesco’s dividend payout ratio (DPR) is 7.42%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its holdings in shares of Banco Bradesco by 11.8% during the 2nd quarter. Northern Trust Corp now owns 138,498 shares of the bank’s stock valued at $378,000 after acquiring an additional 14,610 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its holdings in shares of Banco Bradesco by 61.8% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 22,904 shares of the bank’s stock valued at $69,000 after acquiring an additional 8,751 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Banco Bradesco by 26.3% during the 1st quarter. Checchi Capital Advisers LLC now owns 21,911 shares of the bank’s stock valued at $84,000 after acquiring an additional 4,561 shares in the last quarter. Freestone Capital Holdings LLC boosted its holdings in shares of Banco Bradesco by 47.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 19,295 shares of the bank’s stock valued at $74,000 after acquiring an additional 6,213 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of Banco Bradesco by 63.9% during the 3rd quarter. Virtu Financial LLC now owns 17,092 shares of the bank’s stock valued at $51,000 after acquiring an additional 6,661 shares in the last quarter. Institutional investors and hedge funds own 0.01% of the company’s stock.

About Banco Bradesco

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Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segment, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.

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